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great as they are and the cities that require massive public transportation mechanisms, but the fact that those analogies are not there doesn't diminish in any way the quite prudent and proper steps that these states have taken to keep their own fiscal house in order. certainly having the rainy day fund switch many haven't had is absolutely critical. to take care of the enormous variations that occur in budgets and the economy. if you can lose sight of the fact. we have smaller medicaid expenditure is because the federal formula which favors some states because it isn't based on the actual need on a median income calculation to a state like new york or california has poor people and rich people, so it doesn't get the same break. you get 50 come you get 50i can't remember everybody's numbers i try to educate myself. pat moynihan who always used to try to change those formulas it's all james madison's fault, but -- i think that there are a couple of things that are terribly important that dewaal said to be we don't have a good way of measuring the inadequacy of the infrastructure. we k
great as they are and the cities that require massive public transportation mechanisms, but the fact that those analogies are not there doesn't diminish in any way the quite prudent and proper steps that these states have taken to keep their own fiscal house in order. certainly having the rainy day fund switch many haven't had is absolutely critical. to take care of the enormous variations that occur in budgets and the economy. if you can lose sight of the fact. we have smaller medicaid...
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cities and also states to where are the signs of weakness the factors that are the the headwinds and what are the tailwinds for one for example we keep hearing how housing is improving i know property taxes are a huge source of revenue for cities are these improving are these not up to where they need to be or used to be i mean clearly not where they used to be but better than better. there's they're slowly improving but the thing you have to realize with property taxes is that valuations are done on and generally a rolling three year cycle some places do it on a one year cycle so you still have a lot of leg and property valuations that are affected how much tax can be collected some cities bumped up the rates they use the mills they use and collect more but that has been a very big weak spot that's about fifty percent of local governments revenue sources property taxes generally where you see the problems are places that already have a lot of debt and generally of us bad management. in some cases states and cities issue pension bonds instead of contributing to their pension plan so
cities and also states to where are the signs of weakness the factors that are the the headwinds and what are the tailwinds for one for example we keep hearing how housing is improving i know property taxes are a huge source of revenue for cities are these improving are these not up to where they need to be or used to be i mean clearly not where they used to be but better than better. there's they're slowly improving but the thing you have to realize with property taxes is that valuations are...
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city to fail with the city council halting bond payments so hurriedly talk about what is going on in muni land the risks the rewards the reality is kate long she's a guest contributor to reuters dot com where she writes the muni land column and i'm so excited to talk about this because i have to say kate we don't cover this ever so i'm so excited to have you here today. thanks so much joy yeah so let's just start with a very big picture and tell us where you are in terms of are you more with team whitney who saying they're still going to be more pain in union land or are going to be more defaults more disasters this is not going to end well or are you more in the camp of those say i'll say david kotok camp who is someone that's been on our show who says meredith whitney was dead wrong ok the key in the land is to do your homework and just avoid the trouble spots that i mean it's a lot of municipal bond in a list that analyzes many many credits at the individual level and then you have the rating agencies and all these folks you know generally feel the land is pretty strong we have we
city to fail with the city council halting bond payments so hurriedly talk about what is going on in muni land the risks the rewards the reality is kate long she's a guest contributor to reuters dot com where she writes the muni land column and i'm so excited to talk about this because i have to say kate we don't cover this ever so i'm so excited to have you here today. thanks so much joy yeah so let's just start with a very big picture and tell us where you are in terms of are you more with...
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Dec 14, 2012
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announcing to protect the city and exposing even greater against the rebellion and the united nations. while it may be too early to draw many conclusions, m23 failure to rally would greatly present a common front may signal the beginning of a new era of trust building between ethnic groups after two presidential elections that empowered the congolese to seek change to the ballot, instead of against, m23 has no popular appeal. but the highly controversial and contested 2011 presidential state election, [inaudible] making it impossible for the government to mobilize at a time of crisis. m23 exacerbated the legitimacy crisis by exposing the state in the to protect its citizens. the government failed to be the professional army. throughout the most important single element, coveted natural resource. without such a competent military, drc is unable to stop the search. and said, the government of uss chosin to compromise and co-opt them with no disruption of the rank-and-file. the lack of an adequate military program has resulted in the establishment of structures and the national army. thi
announcing to protect the city and exposing even greater against the rebellion and the united nations. while it may be too early to draw many conclusions, m23 failure to rally would greatly present a common front may signal the beginning of a new era of trust building between ethnic groups after two presidential elections that empowered the congolese to seek change to the ballot, instead of against, m23 has no popular appeal. but the highly controversial and contested 2011 presidential state...
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Dec 14, 2012
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only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >> sean: you may be shocked to learn that one of barack obama's richest and most high-profile supporters is not paying his fair share in taxes. once again, we are seeing liberal hypocrisy in display. the net worth of the google director is worth $18 billion. despite being an obama donor and serving on the council of advisers on science and decknology, mr. schmitt falls into the category of do as i say, know as i do. here's why. in recent days, his company, google, has made headlines, for not exactly paying their fair share. schmitt, at the helm of the company when according to a report by bloomberg news, google avoided $2 billion in worldwide income taxes in 2011, shifting $9.8 million in revenues into a bermuda shell company, almost do
only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >> sean: you may be shocked to learn that one of barack obama's richest and most high-profile supporters is not paying his fair share in taxes. once again, we are seeing...
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Dec 14, 2012
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is this symbolic of what's happening to the city of detroit? is a lack of accountability contributing to the city heading to bankruptcy. of 563,000 people over the age of 16 who are eligible to work, 250,000 or 46% do not have a job in detroit. inin fact, they aren't looking. if that's not enough. out of the 264,000 households in the city, almost 100,000 of them, 35%, now have to rely on food stamps. joining me now with reaction to the decline and perhaps a preview of what may become of many other u.s. industries in in the country, tucker carlson. i spent over a decade in the restaurant business and in the construction business, every job imaginable. this is nonotrs about workers t. i respect the hard work. i don't care if people join a union. they shouldn't be forced to is myul case. with that said, when you look at a city like detroit and a decision like this, they're smoking pot, they're drinking, how do they get their job back? if i did that, i'm outta here. >> well, obviously it's troubling if workers, what they do on their recreation time
is this symbolic of what's happening to the city of detroit? is a lack of accountability contributing to the city heading to bankruptcy. of 563,000 people over the age of 16 who are eligible to work, 250,000 or 46% do not have a job in detroit. inin fact, they aren't looking. if that's not enough. out of the 264,000 households in the city, almost 100,000 of them, 35%, now have to rely on food stamps. joining me now with reaction to the decline and perhaps a preview of what may become of many...
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Dec 14, 2012
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l'enfant designed washington city. there was a competition and he submitted the design for a palace. americans were not having a palace. it was not particularly awe- inspiring. in fact, in 1821, a european diplomat told the congress that as neither large nor awe- inspiring. but the answer the congressman gave said the building served its purpose. if it were larger and more elegant, perhaps some president would be inclined to become its permanent resident. >> former "new york times"" photo critic vicki goldberg has gathered a few of her favorite white house photos in "the white house, the president's home in photographs in history." watch sunday evening at 7:30 eastern and pacific on c- span3's "american history tv." >> "washington journal" continues. we're glad to have back william frey from the brookings institution. and do jennifer ortman. population will be in excess of 400 million people in the u.s. what is going to change? guest: the nation is projected to grow at a slower pace over the next 38 years. the populati
l'enfant designed washington city. there was a competition and he submitted the design for a palace. americans were not having a palace. it was not particularly awe- inspiring. in fact, in 1821, a european diplomat told the congress that as neither large nor awe- inspiring. but the answer the congressman gave said the building served its purpose. if it were larger and more elegant, perhaps some president would be inclined to become its permanent resident. >> former "new york...
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Dec 14, 2012
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the rest is inner city enhanced passenger service and a number of other improvements and grants. for the fra representative and administrator, what is the intent of the administration for high speed rail in the future, the next four years? >> well, i think the president's vision is in his budget and it includes additional billions of dollars for high speed rail. and so it is spelled out in his budget which he continues to be quite committed to it and we hope that the congress will follow through on that. >> well, mr. boardman, you started out with i think less than a hundred million and some of the money that came into the northeast corridor came in sort of i guess at the same time we designated the corridor high speed, which i commend you on doing. but secondly, with the return of money from at least florida, wisconsin and ohio. and mr. boardman, you're using that in some -- i don't mean this to be critical but it's sort of a band aid approach because you don't have the money but you're trying to pick project that is would make a major impact in improvements in the speed of that
the rest is inner city enhanced passenger service and a number of other improvements and grants. for the fra representative and administrator, what is the intent of the administration for high speed rail in the future, the next four years? >> well, i think the president's vision is in his budget and it includes additional billions of dollars for high speed rail. and so it is spelled out in his budget which he continues to be quite committed to it and we hope that the congress will follow...